REC Ltd sale off its shareholdings of SPV project
The company has Intimated the sale and transfer of project specific SPV or subsidiary of REC Limited.
According to the exchange filing of the company, under the Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in continuation of the earlier letter dated March 19, 2024, it is informed that after receipt of necessary consideration by REC Power Development & Consultancy Limited (,RECPDCL'), a wholly owned subsidiary of REC Limited (,REC),the entire shareholding of M/s Meerut Shamli Power Transmission Limited, comprising of 50,000 equity shares, presently held by RECPDCL, has been transferred at par value along with all its assets and liabilities on April 6, 2024 to M/ s. Megha Engineering & Infrastructures Limited, the successful bidder, selected through tariff based competitive bidding process.
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Hence, with effect from the aforesaid date, the SPV is not the subsidiary of REC or RECPDCL.
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